I think your finance major will help you navigate real estate investing and other types of investing.  

Nothing about this type of job would not require permitting in the long run when you are doing below-grade bathroom additions.

If you are new to this type of investing, I suggest you pick up a copy of Lend to Live: Earn Hassle-Free Passive Income in Real Estate with Private Money Lending published by BiggerPockets.

What made you interested in investing in this type of deal?

Determine the type of customers you want though. 

Same type of thing in Detroit. 

What made you interested in investing in this type of deal?

The idea is that, I do this type of work all the time anyway via my firm and I have an advantage in this field due to me working in the industry and being knowledgeable in this subject.

I would use software like Guesty for STR and Avail for MTR if i were to do one or the other type of rental, but not sure what i should use to manage them if using the townhome as both STR and MTR.

Obviously, I don't have insight into your full financial situation, but I would have concerns from a risk management perspective about putting all of your hard-earned savings into purchasing a single property or even a single investment of any type.